News
PAL Holdings net profit slips 22% in latest quarter against same months in 2023
May 6th 2024
PAL Holdings, parent of Philippine Airlines (PAL), said its 3.6 billion peso (US$63 million) net profit for the three months to March 31dipped from the 5.9 billion peso net profit in the same quarter in 2023. Read More » But revenue was higher by 8.5% at 45.8 billion peso, PAL Holdings added in a regulatory filing. The 2024 first quarter result was an “expected outcome” as global travel patterns normalised following the post-pandemic surge of 2023, the group said. “Our positive bottom line confirms we are on track with our strategies for fleet growth, route network expansion and service innovations,” PAL president and chief operating officer, Captain Stanley Ng, said. “We are particularly pleased with the strong reception Manila-Seattle has generated since our announcement of the route last month. Supply chain issues continue to put a strain on our operations, but we are determined to address these challenges.”
